Timo offers a low 1% interest rate on the total purchase value. E.g. If your purchase is 3 million VND, each month you will pay 3 million / no. of months + 1% x 3 million (30,000 VND)
As your application for installments is processed by VPBank, there may be various reasons as part of the credit underwriting process for your application being rejected eg: your credit history.
There is no upper limit. You can apply for installment payments on any transaction that is more than 3 million VND. Timo will recommend transactions that can be converted into installments.
Registration for Installment will be processed in 1 business day (does not include weekends or public holidays.
Find out more about Timo Mastercard’s fee schedule here